Since 1st of July, credit reporting in Australia has changed, is “Comprehensive Credit Reporting” (CCR). The changes are that CCR including not only defaults and bankruptcies but also more positive credit data, which means your credit score will change.
With the new comprehensive credit reporting system positive data is able to be included on credit report, the positive data that can be included on credit reports include account information such as the date an account was opened and closed, credit limit, type of credit account as well as 24 months repayment history.
Tammy Richards is a seasoned finance writer with over 15 years of experience in the industry. With a keen eye for detail and a passion for helping people make smart money decisions, Tammy has become a trusted voice in the world of personal finance. Holding an MBA and drawing from her extensive entrepreneurial background, she offers valuable insights and practical advice to her readers.
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